A new music-tech startup, Musikki, which calls itself the ‘IMDB of music’ has secured €330,000 in funding from Smart Equity, a business angel investment vehicle in London. On the consumer side, London-based Musikki competes with Allmusic, Discovr, Echonest and Rovi on the data and B2B side.
Musikki is based on a proprietary algorithm that matches music data, content and information to the right artist, album or song by pulling multiple APIs and aggregating all the information into one page.
So one the hand its IMDB-like service is aimed at being a source of music discovery for consumers, while on the other it’s powering other music services with data about what people are into.
The company says it is in advanced discussions with a number of major music businesses about partnerships.
Thus far the company has been bootstrapped after winning an MIT-backed grant of €200,000 in non-diluted funding. It has also secured a seed from a number of sources based out of Portugal, where its development base is.